Yep you heard right folks in fact I am one of those poor misfortunate people right now who switched on their Xbox only to discover that my gamer score has been wiped.
To elaborate more I booted up a game only to be told that I suddenly earned eight achievements. Obviously I was curious so as I checked to see what I had earned. Not only did they turn out to be achievements that I already had but in addition I then discovered that my gamer score no longer exists both on my console and on my profile on xbox.com.

As of posting this message I am currently in a queue to speak to a member of Microsoft’s support staff but while waiting a multitude of messages have popped up stating that...

"Some customers are currently showing zero achievements and gamer scores on Xbox LIVE. We are aware of the problem and appreciate your patience while we implement a solution".

Here's a pic in the mean time stayed tuned and we will keep you up to date with any future announcements.

QUICK UPDATE

I've just got back from speaking to the customer support at x-box.com and they have given me a solution to recover my gamerscore. I do warn you though while this method is safe and is recommended by Microsoft I cannot guarantee that this will work.

1) Sign out of your Xbox LIVE profile

2) Press the Guide Button and select Download Profile

3) Log in using your account details.

Personally I was lucky and I have now regained my gamerscore. However I have already been informed by some of you loyal readers out there that this won't work for everyone. Otherwise I have been advised that these issues will be fixed in due time and that doing this on a regular basis throughout the day will eventually produce a positive result. Even while I post this message my profile on xbox.com is still showing 0g so only time will tell. Otherwise hang tight everyone as I and the team at We Know Gamers will update you with more information as it comes.

Final Update

Well it appears that Microsoft have been able to solve the issue rather promptly and the majority of LIVE accounts are now back to normal. Make sure you've check your account and followed the steps above to resolve the matter. Also just for those of you concearned a statement was made by X-box customer support that any achivements earned during the error will be added to your restored account within twenty four hours.